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You need to tell us how you use AutoCAD 2005.
If it is heavily automated thru Lisp and other programming you will lose that.
Express Tools for the most part will be gone.
A place to start:
Download the Trail and see for yourself.
Download the trial and test it in-house for 30-days: best way to find out if it works for you is, well, to try it yourself.
Otherwise what do you want everyone here using LT to tell you exactly: like AutoCAD, LT is not industry specific and other that "2D" you really did not share exactly how you use AutoCAD 2005 (lisps, ARX apps, Express Tools, VBA add-ons etc., all of which are not in LT).
If you use a reseller thya will be able to tell you the cost.
Download the Trial and find out the answer to your other questions.
We will not know what issues you may have going from Full to Lt since we do not know what your drawing content is.
You may find that you have been using all kinds of content that LT does not play well with.
Flatten emulation in LT may become a friend as well.
MLEADERS in newer Versions are one example of something that does not tranlate well to older Versions.
PROXYGRAPHICS, PROXYNOTICE, PROXYSHOW will be three Variable that you will need to become familiar with.
All of your drawings would need to Save to 2004 format by default if you wish to use them regulalry with the older software.
IMHO I wouldn't load AutoCAD 2013 either full or LT version even if I lost a bet.
Check out the issues and the un-expected results in the full ACAD forum.
And for <$DIETY> sake don't uninstall your working version and don't let acad 2013 touch any files you wanna use in pre-2013 files. Even blocks.
There are many issues that you may not be able to resolve. If you are in the middle of a project and
downgrade upgrade to 2013 add a few months to your clients lead time.
But then, that's just my take on it.